IO - ION Geophysical wins extension of Gemini source deployment by big client

ION Geophysical (IO) +22.1% post-market after saying the "supermajor" oil company currently deploying its Gemini extended frequency source technology on a proprietary survey in the Middle East will extend its deployment.ION says the extension will nearly double the duration and area of the original commercial program, validating the technology's commercial readiness, data quality, and operational and environmental benefits.ION reported the original deployment by an unnamed major oil company in January."The survey extension is a significant vote of confidence by the supermajor and is now expected to wrap up in late May," says ION President and CEO Chris Usher.ION is boosting its 3D multi-client re-imaging programs and Tier 1 imaging program, Badsha Chowdhury writes in a neutral analysis posted on Seeking Alpha.

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ION Geophysical wins extension of Gemini source deployment by big client